How our future finances will look like? The 8th Istanbul Finance Summit will be held at Hilton Bomonti Hotel—Istanbul, between 27 – 28 September 2017, and will answer any concerning questions by offering great insights of what's coming. Lithuanian business woman, CEO and Co-founder of Nexus Operations, Ltd., Gintarė Narkevičiūtė is invited to take a part for the second time.

Vilnius City Mayor Remigijus Šimašius intends to proceed with the 90-million-euro national stadium concession tender, even if there is only one participant left, Axis Industries operated by Icor concern.

Poland's construction group Budimex has refused to take part in the 90-million-euro tender to build and manage the national stadium in Vilnius. The company, which had formed a consortium with Lithuania's KDS Grupė, said it had lost interest in the project, as it was too risky.

Board of the state-run company Lietuvos Paštas (Lithuanian Post) has dismissed Lina Minderienė from the post of director general after six years in office, the Transport and Communications Ministry said.

Global Network for Innovation 1776 and Lithuania’s biggest ICT hub Vilnius Tech Park today announced they will join forces on 22 September in Vilnius to organise a local round of Challenge Cup 2017, an annual global competition around the world to identify the most promising startups that solve the world’s biggest challenges. This year Vilnius is one of 75 cities, where the competition is taking place, including Dublin, Athens, Dubai, Osaka.

Lithuania will have fewer public servants, the selection will be centralized, their employer will be free to set salaries and reduce bonuses, however, they will have more days off and money for good performance, according to the reform initiated by the Interior Ministry that will still need approval from the government and the Seimas.

Lithuania's Prime Minister Saulius Skvernelis disagrees with the proposal made by their coalition partners, the Social Democrats, to lower the value-added tax (VAT) tariff on food products, saying that the step would not lower prices.

Partners in Lithuania's ruling coalition, the Social Democrats, suggest introducing a reduced value-added tax (VAT) on main food products and again proposed progressive taxes, says Andrius Palionis, elder of the party's political group.

The accession of German-owned retail chain Lidl to Lithuania has pulled down the prices for food products in Lithuania, however, says Prime Minister Saulius Skvernelis, emphasizing they would never be as low in Lithuania as they are in the neighboring Poland.

The Lithuanian government and the businesses can relax for now and enjoy their summer vacation – the Lithuanian economy continues growing at an accelerated pace . The Lithuanian GDP increased by 3.9% in Q2 of this year, compared to the same period a year ago. Meanwhile, in quarterly terms, the seasonally adjusted GDP increased by 0.6%. The annual growth for Q1 was revised up by 0.2 pp to 4.1%, Swedbank announced.

Excise duty results published by the Lithuanian State Tax Inspectorate signal a decline in alcohol sales and possibly consumption, however, experts say that the information is insufficient for credible conclusions, as they do not cover the impact of illicit alcohol and alcohol purchased abroad.

Lietuvos Oro Uostai (Lithuanian Airports), the operator of the airports of Vilnius, Kaunas and Palanga, has spent the past few years trying to attract a new carrier to fly to one of London's main airports, said CEO Gediminas Almantas, noting that there had been no success.

After the Vilnius City Council on Wednesday gave a go-ahead to a 21.64-million-euro project to modernize the street lighting network, executives of municipality-controlled company Vilniaus Gatvių Apšvietimo Elektros Tinklai (Vilnius Street Lighting Electricity Network, VGAET) due to implement the project says the funder should be established by October.